Brazil in turmoil

Brazil’s political situation was plunged into turmoil after legislators voted to start impeachment proceedings against President Dilma Rousseff on April 17. The process now moves to the Senate which must decide whether to put the president on trial. Opponents of Ms. Rousseff (many of whom blame her for the country’s current misfortunes) welcomed the result, but the president and her supporters view the impeachment as a coup. Given the deterioration in the political climate, prospects of an economic recovery this year appear remote. Our panellists are predicting that Brazil will endure another year of negative growth as real GDP is set to shrink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s